From LaBelle, Florida for Hendry and Glades County and the Lake Okeechobee region. Don Browne, editor.

Monday, May 20, 2013

What's Coming For Gas Prices?

Average retail gasoline prices in Florida have fallen 0.4 cents per gallon in the past week, averaging $3.45/g yesterday, according to GasBuddy's daily survey of 8,237 gas outlets in Florida. This compares with the national average that has increased 8.9 cents per gallon in the last week to $3.67/gallon.

Including the change in gas prices in Florida during the past week, prices yesterday were 7.8 cents per gallon lower than the same day one year ago and are unchanged versus a month ago. The national average has increased 16.6 cents per gallon during the last month and stands 3.0 cents per gallon lower than this day one year ago.

"The last seven days have delivered some shocks at the pump for motorists in the nation's Midwest," said Analyst Patrick DeHaan. "I don't believe I've ever seen gasoline prices in the Midwest surpass California- areas of Nebraska, Minnesota, Oklahoma, North and South Dakota, and Kansas- have done that. Gas price records in these areas aren't being quietly replaced, they're being blown out of the water. I don't believe I've ever seen such crazy trends in gasoline prices occur all at one- prices spiking in one area, falling in another, and holding steady in others. What we're seeing today is certainly rare," DeHaan said.